The Nigerian Interbank Offered Rate (NIBOR), the benchmark interest rate for short-term, unsecured lending, rose as the Central Bank of Nigeria (CBN) monetary auctions triggered liquidity fluctuation in the money market last week.

The money market liquidity improved following inflows from matured bonds and Nigerian treasury bills. The market experienced liquidity fluctuation that plunged liquidity into deficit after the OMO bills settlement during the week.

The financial system liquidity has been plunged into negative following a huge OMO bills auction settlement, and absence of significant inflows to weather the storm.

The Central Bank of Nigeria (CBN) has again increased the spot rates on Nigerian Treasury bills with 91 and 182 days maturities at the main auction

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